Andina

Fin Min: Peru's economy to start 2021 on right foot after rapid recovery

18:00 | Lima, Dec. 16.

Economy and Finance Minister Waldo Mendoza on Wednesday affirmed that Peruvian economy has been recovering rapidly, adding that it will start 2021 on the right foot.

"In the few months that we have left (in office), the instruction from this Cabinet is to contribute to the reactivation of the economy. When an economy grows, so does employment, family income expands, poverty is decreased, revenue increases, and the Government can spend more," Mendoza expressed.

"We must not underestimate the weight of economic growth, which is a variable on which we are acting directly and quickly," he added.

The high-ranking official said the first objective is to make the economy recover, as is currently happening due in part to macroeconomic strengths, which is something that is sometimes not appreciated.

"We are recovering much faster than other countries in the region, and this is essentially because we have a Central Reserve Bank and a Ministry of Economy-Finance that have worked wonderfully over the last 20 or 30 years," he indicated.

Mendoza commented that this sector relies on a fiscal strength which has allowed the country to go into debt in the worst of times.

"What we want is to recover the strength in such a way that we leave the next administration with a healthy fiscal situation. Economies do not advance when private investment does not, as it is the source of long-term economic growth," he remarked.

In this sense, the Cabinet member assured that the Ministry will do whatever is necessary to generate an environment of economic stability and confidence, so that private investments made by small, medium, and transnational companies can flourish.

"This way, we will ensure a sustained economic growth," he concluded.


(END) MVB

Publicado: 16/12/2020